Winston Churchill was among many figures throughout history who understood the importance and potential of economic rent.

In a 1909 speech that was addressed to the House of Commons, he delivered his idea of a budget “package” he authored designed to help end poverty in the UK. Part of this package was a proposal to collect some of the economic rent.

This isn’t a very well-known aspect of his life, despite how prescient he was being. Looking back at history, one will find that economic rent collection and redistribution isn’t just a far-fetched or eccentric idea, after all, seeing as how even mainstream figures saw it as important and viable.